The grayscale wins lawsuit against the SEC

Odaily News According to court documents, Grayscale has won a lawsuit against the SEC.



Earlier on October 12, 2022, it was reported that Grayscale had submitted an opening brief in its lawsuit against the U.S. Securities and Exchange Commission (SEC) for rejecting its application for a spot Bitcoin exchange-traded fund. Craig Salm, Chief Legal Officer of Grayscale, stated that spot ETFs and futures ETFs have "no significant differences" under the backdrop of Bitcoin, as the pricing of Bitcoin futures on the Chicago Mercantile Exchange is inherently lower than that of the spot Bitcoin market. The brief stated that the SEC failed to demonstrate why it would treat Bitcoin futures ETPs and spot Bitcoin ETPs differently, thereby violating the most basic requirements of the U.S. Administrative Procedure Act.